Get to grips with financial crime risk across your enterprise

The reputational and financial damage to institutions that are caught up in money laundering or other economic crime scandals is regularly chronicled in lurid detail by the media. As multi-national financial firms grapple with complex regulatory obligations along with variegated geographical characteristics, a starting point is to conduct an enterprise-wide financial crime risk assessment. Hannah Laming and Diana Czugler summarise the process.

Hannah Laming(hlaming@petersandpeters.com) is a partner and Diana Czugler (dczugler@petersandpeters.com) an associate at Peters& Peters Solicitors. Hannah has expertise in business crime, corruption,private prosecutions, internal investigations, Financial Conduct Authorityregulatory issues and economic sanctions. Diana acts for clients in a widerange of white collar, regulatory and general crime matters.

Corporate entities are facing a fast-evolving regulatory landscape where the identification and appropriate management of financial crime risk is increasingly important in ensuring an effective compliance programme. A rigorous global risk assessment underpinning a tailored control framework is paramount to a corporate’s ability to successfully navigate multi-faceted anti-money laundering (AML), anti-bribery (ABC), counter-terrorist financing and sanctions requirements that are likely to vary across jurisdictions.